Aug 14, 2007 : VMware Launches IPO of 33m Shares
📅 - Virtualization solutions provider VMware (vmware.com) announced on Tuesday that it will launch its initial public offering of 33 million shares of its Class A Common Stock at $29 per share. Shares will begin trading tomorrow on the NYSE under the ticker symbol "VMW".
Citi, JPMorgan and Lehman Brothers acted as the representatives of the underwriters and along with Credit Suisse, Merrill Lynch & Co. and Deutsche Bank Securities, acted as the joint book-running managers of the offering.
When the company announced changes to its prospectus last week, VMware executives raised the stock price from an initial offering of between $23 and $25 per share to between $27 and $29 per share, according to its filing with the Securities and Exchange Commission. The IPO is expected to infuse the company with plenty of cash with estimated of more than $1 billion.
More importantly, the IPO will help raise awareness for VMware among people outside of the IT industry, says Forrester Research vice president Frank Gillett, who authored a July 9 report on the virtualization industry. The IPO will help drawing extra publicity for the company and extend the company's credibility as it seeks to create a fabric operating system that can span the entire data center, says Gillet.
Networking hardware developer Cisco Systems announced last month that it acquired a $150 million stake in VMware, buying shares of the company's common stock.
Citi, JPMorgan and Lehman Brothers acted as the representatives of the underwriters and along with Credit Suisse, Merrill Lynch & Co. and Deutsche Bank Securities, acted as the joint book-running managers of the offering.
When the company announced changes to its prospectus last week, VMware executives raised the stock price from an initial offering of between $23 and $25 per share to between $27 and $29 per share, according to its filing with the Securities and Exchange Commission. The IPO is expected to infuse the company with plenty of cash with estimated of more than $1 billion.
More importantly, the IPO will help raise awareness for VMware among people outside of the IT industry, says Forrester Research vice president Frank Gillett, who authored a July 9 report on the virtualization industry. The IPO will help drawing extra publicity for the company and extend the company's credibility as it seeks to create a fabric operating system that can span the entire data center, says Gillet.
Networking hardware developer Cisco Systems announced last month that it acquired a $150 million stake in VMware, buying shares of the company's common stock.
Reads: 1951 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/081407_VMware_Launches_IPO_of_33m_Shares.cfm
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